Suncor Energy Inc. $SU Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn raised its stake in Suncor by 6.0% in Q3, adding 560,724 shares to hold 9,965,233 shares (about $417M), making Suncor its 12th-largest position and representing ~1.3% of the firm's holdings.
• Suncor declared a quarterly dividend of $0.60 (annualized $2.40) with an ex-dividend date of March 4 and a yield of roughly 4.1%, payable March 25.
• The company slightly beat quarterly EPS estimates ($0.79 vs. $0.77), has a market cap of ~$69.3B and a consensus analyst price target of about $61 with an average rating of "Moderate Buy" (5 Buys, 3 Holds).

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,965,233 shares of the oil and gas producer's stock after buying an additional 560,724 shares during the period. Suncor Energy comprises about 1.3% of Connor Clark & Lunn Investment Management Ltd.'s holdings, making the stock its 12th largest holding. Connor Clark & Lunn Investment Management Ltd. owned about 0.83% of Suncor Energy worth $416,933,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Suncor Energy by 14.2% during the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer's stock valued at $959,000 after acquiring an additional 3,115 shares during the period. Geneos Wealth Management Inc. grew its position in Suncor Energy by 172.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer's stock valued at $77,000 after acquiring an additional 1,254 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Suncor Energy during the second quarter worth about $37,000. Savant Capital LLC lifted its position in shares of Suncor Energy by 47.4% during the second quarter. Savant Capital LLC now owns 14,245 shares of the oil and gas producer's stock worth $533,000 after purchasing an additional 4,580 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Suncor Energy by 29.0% during the second quarter. Allworth Financial LP now owns 2,021 shares of the oil and gas producer's stock worth $76,000 after purchasing an additional 454 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Up 1.6%

Shares of NYSE SU opened at $58.22 on Thursday. The company has a market capitalization of $69.27 billion, a price-to-earnings ratio of 16.78 and a beta of 0.43. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89. The business has a 50-day moving average of $52.69 and a two-hundred day moving average of $45.81. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $58.63.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The business had revenue of $8.77 billion during the quarter, compared to analysts' expectations of $8.79 billion. During the same period in the prior year, the firm posted $1.25 EPS. On average, analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, March 4th. Suncor Energy's dividend payout ratio is 50.72%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Suncor Energy from $48.00 to $54.00 and gave the company a "buy" rating in a research note on Friday, January 23rd. Zacks Research lowered shares of Suncor Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. raised shares of Suncor Energy from a "neutral" rating to an "overweight" rating and raised their price target for the company from $46.15 to $54.00 in a research report on Tuesday, January 20th. Royal Bank Of Canada boosted their price target on shares of Suncor Energy from $69.00 to $75.00 and gave the stock an "outperform" rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Suncor Energy in a research report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $61.00.

Suncor Energy Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company's operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.

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